Oztrade
Long

USDJPY - BULL CYPHER BAT - POTENTIAL GARTLEY - ADVANCED ANALYSIS

FX:USDJPY   U.S. Dollar / Japanese Yen
139 0 4
Hi All, I posted the Bearish Cypher the other day with the potential for a stop and reverse trade Cypher to Cypher .

In looking at this chart we are having trouble penetrating past the 199.73 -75' level

After price action goes up and down to the fib levels we have now formed a BAT Pattern opportunity.

I had this question the other day - would you take the lower entry to minimize your risk, and can you handle watching a trade run away from you. Or would you be more worried if you enter the Cypher and lose more in risk

This will come down to your rules, what patterns you favor more in your testing which has produced a better overall return.

With the previous Cypher and Bat on this same pair - I took the lower entry being the Cypher because this pattern is more favorable in this pair after reviewing my trade plan and back and forward test results.

Follow your rules and trade your plan - good luck all

Standard Entries Stops and Targets have been set - As always color coded for easy review.

Happy Trading All

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